Maximum ATM Withdrawal

My bank allows 10 free atm withdrawals per month, $2 usd for each withdrawal after that. So it would make sense to do a few large withdrawals rather than a bunch of little ones. I read that there is a maximum 10,000 rupee limit per transaction for Indian ATM cards, does this also apply to US atm cards or is there a higher transaction limit?

Most ATM banks only allow 10,000 rupee withdrawals. I think the limit is for cards not from that bank or something. A few will allow 15,000 or 20,000 (eg. Citibank, Punjab Bank, Royal Bank of Scotland). But $2 is an incredibly reasonably amount. Many banks charge upward of $5.00 per international transaction (with no freebies).

Originally Posted by bruadairMy bank allows 10 free atm withdrawals per month, $2 usd for each withdrawal after that. So it would make sense to do a few large withdrawals rather than a bunch of little ones. I read that there is a maximum 10,000 rupee limit per transaction for Indian ATM cards, does this also apply to US atm cards or is there a higher transaction limit?

Thanks!

The maximum limit per day/transaction is the one your bank determines. I have a pre-set limit for my ATM card, which applies worldwide, in local currency. Check with your bank on the restrictions and limits when traveling internationally.

Originally Posted by nycank... I have a pre-set limit for my ATM card, which applies worldwide, in local currency. ...

But most Indian banks now (within the last year) limit how much you can take at one go, that limit being in local currency. Which means you can reswipe, but if your bank charges per withdrawal, you have to pay the charge each swipe.

Thanks everyone for the replies. My bank doesn't charge for the first 10 atm withdrawals each month and that includes foreign transactions. It also refunds any fees charged by other bank's atm (domestic and foreign) up to $20 each month. The only thing I do pay for with this atm card is a 1% foreign transaction fee which is reasonable, been paying that for 8 years now so am used to it.

I've preset my daily limit but it's more than 10,000 rupees per transaction. It is nice to know that Citibank allows a higher withdrawal, they did in Colombia recently too compared to other banks there.

Originally Posted by *jyoti*But most Indian banks now (within the last year) limit how much you can take at one go, that limit being in local currency. Which means you can reswipe, but if your bank charges per withdrawal, you have to pay the charge each swipe.

Not just the last year this has been around for ages (atleast 3 years now if i recall correctly). The Rs 10000 per transaction limit generally applies to cards not issued by the bank that owns the atm or a card tied to a no frills account.

Quote:

Originally Posted by bruadairThe only thing I do pay for with this atm card is a 1% foreign transaction fee which is reasonable, been paying that for 8 years now so am used to it.

That is VERY reasonable . In my experience I have not seen any one in india charges less than 2.5 for foreign currency transactions on an India issued card.

Quote:

Originally Posted by bruadairI've preset my daily limit but it's more than 10,000 rupees per transaction. It is nice to know that Citibank allows a higher withdrawal, they did in Colombia recently too compared to other banks there.

Thanks again

I've had a debit card with a daily limit of INR 200000. This limit depends on your account / card type. Regardless of YOUR transaction limit most bank atms in india will allow you only what their limit is, which in most cases is Rs 10000 per transaction.

Originally Posted by goangoangoneMy Bank of India allows 15000 per day but some ATMs say that 15000 is too much for their machine. I can, however draw 10000 and then another transaction of 5000. Would this count as 2 deals for you???

Yeah, that counts as two deals. Shouldn't really be a big issue I guess. I shouldn't need that much rupees anyway, but if I do I suppose $2 to get it after my first transactions is fair, at least I can get it if I need it.

The only ATM I know that lets you take out Rs 25k in one swipe is Federal bank ATMs and I have been using them for 3-4 years. I use a card issued by a a UK bank and its been working fine. All other bank ATMs that I know of have a max limit of 10k per transaction.

Originally Posted by bruadairMy bank doesn't charge for the first 10 atm withdrawals each month and that includes foreign transactions. It also refunds any fees charged by other bank's atm (domestic and foreign) up to $20 each month. The only thing I do pay for with this atm card is a 1% foreign transaction fee which is reasonable, been paying that for 8 years now so am used to it.

That sounds great! Bank of America charges about $5 for ATM card use in India on an American card. Which bank is it you're using?

Most ATM's in India have a 40 notes limit for the Cash Currency slot. And most ATM's are filled with INR 100 and 500, and in some cases 1000. Most ATM's will also give you a upto five INR 100 notes. So that it self limits the amount that you can get in a single transaction to anywhere between 4000 to 35500/40000.

Then there are limits (daily and each transaction) imposed by both Indian and foreign banks.

Slightly off topic but important to know - when cash in a particular machine is running low, many banks will not process the payment request of card holders of another bank. This is an unspecified and unpublicised practice but the machines can be programmed that way. Worst part is they will not even tell you this officially. The machine will just say your transaction could not be processed. Go to another ATM - that's the only solution. Often you might even get a message on your mobile saying that your account has been debited for X amount but the money wouldn't come. Don't panic. These transactions are immediately reversed.
Another safety practice while using ATM in a city away from home - don't use any old machine where the machine takes your card right inside and ejects it only after the transaction is over. Use only new machines where it's okay to swipe the card only. If something goes wrong and your card gets retained by the stupid machine then it might take a lot of running around to get the card released.